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of December 16, 2016 No. 461-VQ

About clearing settlements

(as amended on 30-12-2022)

This Law according to Item 15 of part 1 of article 94 of the Constitution of the Azerbaijan Republic establishes legal and economic basis of the clearing settlements made in the territory of the Azerbaijan Republic.

Chapter 1. General provisions

Article 1. Purposes of clearing settlements

The purposes of this Law are ensuring transparency of transactions and calculations made between participants of civil circulation in the territory of the Azerbaijan Republic, consumer protection, stimulation of replacement of cash cash calculations by clearing settlements, acceleration of development of bank system.

Article 2. Legislation on clearing settlements

2.1. The legislation on clearing settlements consists of this Law, the Civil code of the Azerbaijan Republic, the Tax code of the Azerbaijan Republic and regulatory legal acts adopted according to them.

2.2. The legislation on clearing settlements does not extend to the Alyatsky free economic zone.

Chapter 2. Regulation of clearing settlements

Article 3. Calculations made via bank transfer

3.1. Clearing settlements are meant as the following:

3.1.1. calculations made by transfer from the bank account of one person for the bank account of other person (including by means of payment instruments (payment cards, the payment order and so forth) and means of payment (mobile telephone sets, the computer and other equipment);

3.1.2. calculations made by means of payment terminals;

3.1.3. calculations made by direct transfer into the bank account of the seller in cash procedure.

3.2. Cashless payment by calculations between two parties, being taxpayers, can be made only in the form established in article 3.1.1 of this Law.

3.3. Taking into account provisions of article 3.5 of this Law, the taxpayers registered for the purpose of the VAT and the taxpayers who are engaged in trade in public catering whose amount of taxable transactions in any month (months) of the consecutive 12-month period exceeds two hundred thousand manats shall make payments for calculations which total amount exceeds thirty thousand manats during calendar month, via bank transfer, and other taxpayers make payments via bank transfer for calculations which total amount during calendar month exceeds fifteen thousand manats.

3.3-1. On persons occupied on seasonal works based on the agreements of civil nature connected directly with production of agricultural products, the maximum amount which can be paid by cash in day to each such physical person is established in the amount of twenty manats, and this amount does not join in the limiting amount of the cash transaction determined by article 3.3 of this Law.

3.4. Irrespective of provisions of article 3.3 of this Law the following calculations are made only via bank transfer:

3.4.1. tax payment, customs duties and charges, administrative penalties established by the law, financial sanctions and percent, debts on leasing transactions and issuance of credits;

3.4.2. the payments established by the laws of the Azerbaijan Republic "About insurance activity" and "About compulsory insurance";

3.4.3. fee to state bodies, the legal entities who are in property of the state and which controlling stake of shares (shares) belongs to the state, state-financed organizations and legal entities of the public law (taking into account provisions of article 3.4.12 of this Law) and other charges;

3.4.4. the salary (including other payments established by the legislation made by the employer), pension, grant, financial support, benefits (including lump-sum allowances), compensations paid by other persons, except for persons acting in the field of retail trade, food and services which amount of transactions in any month (months) of the consecutive 12th monthly period exceeds two hundred thousand manats;

3.4.5. fee of stationary phones and utility costs;

3.4.6. payment and return of interest-free money (except as specified issues of money by persons who are not taxpayers), other assignments;

3.4.7. use (expenditure) of the means received under the agreement of public procurements);

3.4.8. payment for training;

3.4.9. payments to travel agents.

3.4.10. payments on car sale in specialized procedure, including by means of commission charges and trade organizations;

3.4.11. payments on the amount over four thousand manats within one transaction on sales of goods (except for cars) represented according to the procedure of retail sale;

3.4.12. payments on the amount over five hundred manats within one transaction on the medical services rendered by medical institutions and the physical persons practising private medicine;

3.4.13. prizes (awards) and money payments (money deposits) established on the relations regulated by the laws of the Azerbaijan Republic "About lotteries" and "About physical culture and sport" for the total amount over three thousand manats connected with participation in games;

3.4.14. the payments made in connection with purchase and sale of real estate, share of the member of housing cooperative, acquisition of residential and non-residential premises at persons performing construction activities;

3.4.15. payments on purchase and sale of gemstones, precious metals, including products from gemstones and precious metals and cultural products which total amount exceeds fifteen thousand manats;

3.4.16. payments on purchase and sale of the personal estate registered in the state registers (except for car sales) for the total amount more than fifteen thousand manats.

3.5. Taxpayers can buy from the physical persons who are not taxpayers in cash form the following goods:

3.5.1. acceptance of agricultural products at producers of agricultural products;

3.5.2. acceptance of black and color scrap metal;

3.5.3. acceptance of products from paper, glass and plastic for utilization and other purposes;

3.5.4. acceptance of the fulfilled tires for the purpose of utilization;

3.5.5. procurement (purchase) of skin (raw).

3.6. Calculations, the stipulated in Article 3.4.4 presents of the Law, do not extend to subjects of operational search, intelligence and counterintelligence activities.


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